/ ESG: new challenges for Wealth Managers
Environmental, Social and Governance (ESG) factors are increasingly being considered by investors, and are becoming part of financial analysis.
For investors, choosing a provider with ESG values is proof of usiness resilience, competitive strength and financial performance.
Therefore, Asset Managers are facing a new challenge : how to build a sustainable business model for a new era of ESG-focused investment, while regulators are focusing more closely on the data and disclosures that underlie ESG strategies.
Several French insurers are transferring more and more additional pensions to these funds. The movement has accelerated with the arrival of the 12/31/2022 deadline that allows them to benefit from these favorable prudential rules.
Transferring portfolios to the SPRF requires significant accounting effort by insurers. SOLIAM provides its clients with a package that allows them to manage the process of transferring assets in order to isolate the accounting scope of the future FRPS and all associated transactions. From 01/01/2022, it is possible to make transactions with accounting entries that distinguish the operations related to the FRPS from the acquisition to the sale or establishment of the company operation. SOLIAM then allows these entries to be exported to the insurer’s general ledger.
SOLIAM 15.1.0 was released on the 31st of December. The newest version of SOLIAM also features ergonomic enhancements for front office screens.
Regulators are supporting ESG principles. In March 2021, EU rules aimed at addressing ESG concerns – the Sustainable Finance Disclosure Regulation (SFDR) – came into effect. While the SFDR has not been adopted by the UK, it could still apply to UK firms that market funds into the EU under National Private Placement Regimes, or where EU firms delegate a portfolio or risk management to a UK-based fund manager. SFDR aims to make the ESG profile of funds more comparable and better understood by investors.
The future trends for investors include:
⁄ Adopting ESG investments which can help future-proof portfolios against changes in the global economy.
⁄ Moving to renewable energy
⁄ Using artificial intelligence (AI) and new technology to help care for an ageing population and keep the environment clean
VERMEG intends to support its clients by launching a Focus Group in the coming weeks to propose how to adapt SOLIAM to market standards for managing ESG data.
/ Blockchain technology for Fund Management
With blockchain usage accelerating in the asset management industry, VERMEG has launched a series of consultations to partner with blockchain-enabled platforms.
These partnerships will offer SOLIAM clients the best tools in Fund Management.
Blockchain technology replaces the trusted third party, and therefore allows fast, secure and tamper-proof operations on funds.
SOLIAM integrates new market platforms allowing the management of subscriptions/redemptions of fund units via Blockchain technology.
This will enable the insurance customers to utilize blockchain technology and to create new growth drivers.
/ VERMEG initiative to automate testing with Angular
VERMEG has launched a project to automate the testing of new Angular front-office screens. The objective of this project is to accelerate the testing and installation of the Angular version for customers.
VERMEG plans to migrate a dozen customers from the Flex version to the Angular version in 2022. This automatic test project will allow these customers to upgrade their environment much more quickly.
/ Digital transformation leads Multi Custodian Data Integration
With more and more custodians to work with, insurers have to deal with large volumes of custodian data in order to support their business growth.
Zoom, our video magazine, has dedicates a session to multi-custodian data management.
We take a closer look and zoom in:
⁄ The latest trends about digital transformation in life insurance;
⁄ How Octium Life manages a multi-custodian ecosystem to support its growth;
⁄ The solutions to simplify the collection and integration of custodian data.
Zoom le magazine video de VermegFeaturing Speakers:
⁄ Emiliano Luzzi – Insurance Consulting Leader at EY
⁄ Conor O’Mahony – CFO at Octium
⁄ Cédric Cajet – Head of Presales – VERMEG
/ Custodix: simplify the management of your custodian interfaces
VERMEG offers its expertise in collecting and processing custodian data, to help customers simplify this key part of their business.
Custodix is based on a VERMEG solution initially developed for custodians. Over the years, this solution has been fine-tuned as VERMEG’s solution for managing data exchange and processing. It is now offered as a complement to other VERMEG applications for all types of banking/insurance projects.
/ Custodix key benefits:
⁄ Make costs variable to adapt them simply to the development to the business;
⁄ Reduce costs with a fixed fee for each new interface and scalable maintenance;
⁄ Accelerate time-to-market with support from VERMEG’s experts in onboarding new partners;
⁄ Guarantee the future by benefiting from scalable maintenance and monitoring of SWIFT releases;
⁄ Ensure monitoring with easy integration of monitoring data and reports;
⁄ Simplify the management by choosing the formats in which custodian data are received.
The latest release of Custodix supports multiple message formats with SOLIAM standard format files :
⁄ FIN SWIFT messages (MT515, MT535, MT300, MT54x, MT900, MT910, MT941).
⁄ ISO 20022 Swift messages (Setr.016.001.04, Setr.006.001.04, Setr.012.001.04, Camt053.001.08, Camt054.001.08).
⁄ 13 custodian messages from Luxembourg & Swizerland.
